TON Goes Multi-Chain with Chainlink’s CCIP and Data Streams

Key Highlights:

• Chainlink integrates CCIP and Data Streams with TON.
• TON now gains real-time, sub-second price data for faster and more reliable DeFi execution.
• The Graph (GRT) also adopts CCIP.

Chainlink has expanded its Cross-Chain Interoperability Protocol (CCIP) and Data Streams to the TON blockchain, marking a big step for TON’s growth as a fast and connected DeFi network. With this move, TON can now move safely, without any manual approvals across more than 60 major blockchains using Chainlink’s Cross-Chain Token (CCT) standard, helping TON become a key link in the global multi-chain economy.

Additionally, Chainlink Data Streams brings ultra-fast, real-time market data to TON, which will allow developers to work to faster and build highly responsive apps, including complex cross-chain financial products.

Chainlink announces TON adopting CCIP

Key Features of Chainlink and TON Integration

With this integration, Chainlink’s oracle technology will be used as the main cross-chain system for Toncoin. In short, TON and Toncoin are now plugged into Chainlink’s large network of blockchains that support CCIP, and will allow projects and tokens that are already using CCIP to easily connect with TON.

This cross-chain link will provide TON access to new markets, more liquidity, and more users across the Web3 ecosystem. It allows assets and protocols to move without any hassle between chains, improving how easily projects can work together and share liquidity.

Thodoris Karakostas, Director of Blockchain Partnerships at Chainlink Labs commented “With Chainlink CCIP powering cross-chain transfers of Toncoin via the Cross-Chain Token (CCT) standard and Data Streams delivering low-latency price data, developers and users on TON now have the infrastructure to build and use advanced DeFi applications that scale across chains and markets. By connecting TON to CCIP’s growing network of supported chains, we’re enabling a new level of cross-chain liquidity and composability for the entire Web3 ecosystem”

Real-Time Market Data with Chainlink Data Streams

With CCIP, Chainlink’s Data Streams technology brings fast, real-time price data to TON blockchain. Instead of delayed or slow feeds, these data streams deliver prices in less than a second. The platform uses trusted source and secure verification so that the information cannot be tampered with. This provides TON the power to support quick trading, lending and derivatives activity while making sure that the transparency and security is maintained.

Data Streams use a pull-bases system (meaning apps on TON can request market data exactly when they need it and verify it instantly). This is different from older oracle models that constantly push data even when it is not needed or required. By sending data only when it is needed, TON apps get better performance and the speed increases.

This development has affected the price of the token. At press time, the price of the token stands at $2.26 with an uptick of 5.75% in the last 24-hours as per CoinMarketCap.

TON 24-hours chart

Strategic Significance for TON and Chainlink

TON, a fast Layer-1 blockchain that is deeply connected with Telegram’s massive user base of over a billion people, now gets a major push through Chainlink’s proven oracle and cross-chain systems.

Glenn Brown from TON Foundation said “Integrating with Chainlink’s CCIP and Data Streams marks a major milestone in TON’s evolution. Chainlink provides the secure and battle-tested infrastructure we need to enable seamless cross-chain transfers and data-driven DeFi at global scale.”

At the same time, The Graph (GRT) has also adopted Chainlink’s CCIP to become a cross-chain token. This upgrade allows GRT to move safely between Arbitrum, Base, and Avalanche with Solana support coming next.

The Graph announces that GRT is now a CCT

This development has also affect the price of the GRT token. At press time, the price of the token stands at $0.06267 with an uptick of 3.77% in the last 24 hours as per CoinMarketCap.

GRT 24-hours chart

By making GRT usable across multiple major blockchains, the integration makes it easier for developers and users to access the token and expand The Graph’s reach.

Also Read: Ethereum Price Eyes Key Support as Network Activity Hits Record High 

Source: https://www.cryptonewsz.com/chainlink-connect-ton-chains-ccip-data-stream/